Palouse Capital Management Inc. Acquires 1,166 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Palouse Capital Management Inc. increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 71.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,802 shares of the medical research company’s stock after purchasing an additional 1,166 shares during the quarter. Palouse Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $1,458,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of TMO. IFG Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 3.3% during the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after acquiring an additional 17 shares in the last quarter. Stonegate Investment Group LLC grew its stake in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after acquiring an additional 18 shares in the last quarter. Angeles Wealth Management LLC grew its stake in shares of Thermo Fisher Scientific by 0.5% during the 3rd quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after acquiring an additional 19 shares in the last quarter. Bangor Savings Bank grew its stake in shares of Thermo Fisher Scientific by 6.0% during the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after acquiring an additional 19 shares in the last quarter. Finally, Eagle Rock Investment Company LLC grew its stake in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after acquiring an additional 19 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,125 shares of company stock worth $11,231,699. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.0 %

TMO opened at $532.58 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The company has a market capitalization of $203.71 billion, a P/E ratio of 32.22, a P/E/G ratio of 3.18 and a beta of 0.77. The stock has a fifty day moving average of $548.51 and a 200-day moving average of $570.52.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its board has initiated a share buyback plan on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TMO. Robert W. Baird cut their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada cut their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. TD Cowen increased their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Raymond James reissued an “outperform” rating and issued a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Finally, Stifel Nicolaus cut their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.